Banco Occidental was one of several Colombian regional banks granted note-issuing authority under the 1880s free banking legislation, operating primarily out of Cali and serving the Cauca Valley trade networks. The American Bank Note Company's involvement was typical for the higher denominations issued by these institutions — the prestige of a New York engraver carried weight with merchant creditors even if the bank's reserves did not always match its paper.
At 500 Pesos, this was not a note that circulated through ordinary commerce. Denominations of this scale moved between merchants, landowners, and the bank itself. Colombia's free banking period collapsed in 1894 when the Banco Nacional reasserted monopoly control, and most regional bank notes were called in — survival rates for high-denomination issues are accordingly low.
Banco Occidental was one of several Colombian regional banks granted note-issuing authority under the 1880s free banking legislation, operating primarily out of Cali and serving the Cauca Valley trade networks. The American Bank Note Company's involvement was typical for the higher denominations issued by these institutions — the prestige of a New York engraver carried weight with merchant creditors even if the bank's reserves did not always match its paper.
At 500 Pesos, this was not a note that circulated through ordinary commerce. Denominations of this scale moved between merchants, landowners, and the bank itself. Colombia's free banking period collapsed in 1894 when the Banco Nacional reasserted monopoly control, and most regional bank notes were called in — survival rates for high-denomination issues are accordingly low.